Welcome to our dedicated page for Atlas Corporation news (Ticker: ATCO), a resource for investors and traders seeking the latest updates and insights on Atlas Corporation stock.
Atlas Corp. (ATCO) appears frequently in financial and corporate news through its ongoing communications with investors and holders of its securities. Press releases issued from London, United Kingdom, describe Atlas as a global asset management company focused on high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. Many of the company’s recent announcements concern its preferred share capital and related corporate actions.
News items for ATCO prominently feature quarterly dividend declarations on preferred shares. Atlas has repeatedly announced cash dividends on its Series D and Series H preferred shares, identified in the releases by tickers such as ATCO PD and ATCO PH, as well as on its Series J preferred shares. These releases provide details on dividend amounts, record dates and payment dates for each dividend period, giving income-focused investors insight into the timing and terms of preferred distributions.
Another category of Atlas-related news covers capital structure changes and redemptions. The company has issued releases on the full redemption of its Series I preferred shares and, through SEC filings, has reported the redemption of all outstanding Series H preferred shares. These events are relevant for investors tracking the evolution of Atlas’s preferred equity and the status of specific series.
Corporate transaction news is also part of the ATCO story. A press release details the completion of the acquisition of Atlas by Poseidon Acquisition Corp., in which a merger subsidiary combined with Atlas and Atlas requested the suspension of trading of its common shares on the New York Stock Exchange, described as a delisting. This type of news is important for understanding changes in ownership and listing status.
In addition, news related to Seaspan Corporation, a wholly owned subsidiary and one of Atlas’s main portfolio companies, appears in the same news stream. These items describe Seaspan’s activities in containership leasing and alternative-fuel vessel programs, illustrating the operational context behind Atlas’s asset management focus on maritime infrastructure.
Investors and observers using the ATCO news page can review this mix of dividend announcements, preferred share redemptions, merger developments and Seaspan operational updates to understand how Atlas communicates its capital decisions and portfolio activity over time.
On August 16, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced its intention to redeem $250 million of 5.50% senior notes due 2025 and $50 million of 5.50% senior notes due 2026 held by Fairfax Financial Holdings. This redemption, effective on August 23, 2021, will be at a price of $1,000 per note plus accrued interest. CFO Graham Talbot expressed appreciation for Fairfax's support, emphasizing the redemption as a step toward optimizing Atlas's capital structure and enhancing access to capital markets.
Atlas Corp. reported strong Q2 2021 financial results, achieving revenue growth of 8.3% to $393.9 million and Funds from Operations (FFO) growth of 20.0% to $193.5 million. Adjusted EBITDA increased by 14.1% to $272.5 million. The company raised its 2021 financial guidance based on confidence in its business model and operational execution. Total gross contracted cash flow reached $16.2 billion, reflecting robust future earnings potential. Despite a $56.1 million non-cash charge from debt extinguishment, adjusted diluted EPS rose 50% to $0.39.
On August 5, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced new five-year charter agreements for ten containerships, adding approximately 100,000 TEU to their fleet. This brings the total forward fixed vessels in 2021 to 58, generating an estimated $670 million in gross contracted cash flow. The company emphasizes its strategy of forward fixing to insulate against market volatility and enhance long-term cash flow, highlighting its position as a leader in the maritime industry.
Atlas Corp. (NYSE: ATCO) will release its financial results for Q2 2021 after market close on August 9, 2021. A conference call for shareholders is scheduled for August 10, 2021, at 8:30 a.m. ET to discuss these results. Investors can access the conference via toll-free numbers or listen through a live webcast on the company's investor relations page. A replay of the call will be available shortly after the event and will last until August 25, 2021.
For more information, visit atlascorporation.com.
Atlas Corp. (NYSE: ATCO) announced the appointment of Ms. Katie Wade as a non-executive director, effective September 1, 2021. Ms. Wade, currently the Chief Financial Officer at AEGIS London, brings 21 years of experience in financial markets and a strong background in driving financial performance. Chairman David Sokol emphasized her expertise will be valuable in contributing to Atlas's success. The company focuses on creating sustainable shareholder value through its portfolio companies in the maritime and energy sectors.
Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), has successfully closed a $750 million issuance of senior unsecured notes, an increase from the initial $500 million. These notes, maturing in 2029 with a 5.50% interest rate, will fund projects aligned with Seaspan's Blue Transition Bond Framework, aimed at enhancing sustainability in maritime operations. This milestone indicates growing investor confidence and positions Seaspan favorably in capital markets, supporting future growth and liquidity.
On July 9, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), priced a $750 million offering of 5.50% senior unsecured notes set to mature on August 1, 2029. This represents a $250 million increase from the initial offering. The net proceeds are estimated to be approximately $736 million, aimed at funding eligible projects under Seaspan's Blue Transition Bond Framework. The offering is limited to qualified institutional buyers and will not be guaranteed by Atlas or its subsidiaries.
Atlas Corp. (NYSE: ATCO) declared cash dividends for common and preferred shares on July 7, 2021. The common share dividend is $0.125 per share, covering the period from April 1 to June 30, 2021, with a record date of July 20 and a payment date of July 30. For preferred shares, dividends are: $0.496875 for Series D, $0.492188 for Series H, $0.50 for Series I, and $0.238194 for Series J, all payable on July 30, 2021. This marks the 64th consecutive dividend declared by Atlas and its predecessor. The company focuses on creating sustainable shareholder value in infrastructure assets.
On July 6, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), received a 'BB-' issuer credit rating from S&P Global Ratings, along with a 'BB-' rating for its proposed senior unsecured notes due 2029. The rating outlook is stable. S&P highlighted Seaspan's position as the world's leading containership charterer, emphasizing the stability provided by its high rate of contracted revenues. CFO Graham Talbot noted that these ratings reflect progress towards a more efficient capital structure and efforts to achieve an investment-grade rating.
On July 6, 2021, Seaspan Corporation, a subsidiary of Atlas Corp. (NYSE: ATCO), announced plans to offer $500 million in senior unsecured notes due 2029. The proceeds will finance various eligible projects outlined in the offering memorandum. The notes are senior unsecured obligations of Seaspan, set to pay interest semiannually and mature on August 1, 2029. They will be sold only to qualified institutional buyers under Rule 144A and may not be registered under the Securities Act. Seaspan's operational fleet currently comprises 131 vessels with a total capacity of approximately 1,120,200 TEU.